NEW YORK, Feb. 14, 2018 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Nationstar Mortgage
Holdings Inc. ("NSM" or the "Company") (NYSE: NSM) in connection
with the proposed acquisition of the Company by WMIH Corp. ("WMIH")
(NASDAQ: WMIH). Under the terms of the acquisition agreement,
the Company's shareholders can elect to receive $18.00 in cash or 12.7793 shares of WMIH for each
share of NSM. The latter represents consideration of $14.95 per NSM share, based on WMIH's
February 13 trading price of
$1.17.
WeissLaw is investigating whether NSM's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, NSM traded for $19.45, or
$1.45 above the per-share cash offer
and nearly $5.00 above the per-share
consideration, recently as January 9. Additionally, at least
one analyst set a target price of $23.00 per share.
Moreover, in its most recent financial release, the Company
announced positive financial results. It reported
originations GAAP pretax income of $45
million in the third quarter of 2017, a figure which
"exceeded [NSM's] target again [] with funded volume increasing
twenty percent," according the Company's CEO.
Given these facts, WeissLaw is investigating whether NSM's
shareholders will obtain their fair and proportionate share of the
Company's continued success and growth prospects. If you own
NSM shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/nationstar-mortgage-holdings-inc/.
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SOURCE WeissLaw LLP